McKesson Co. (NYSE:MCK) Shares Sold by Jag Capital Management LLC

Jag Capital Management LLC trimmed its holdings in McKesson Co. (NYSE:MCK) by 96.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 554 shares of the company’s stock after selling 16,706 shares during the period. Jag Capital Management LLC’s holdings in McKesson were worth $257,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in MCK. Allworth Financial LP raised its position in shares of McKesson by 2.1% in the 3rd quarter. Allworth Financial LP now owns 3,202 shares of the company’s stock valued at $1,392,000 after purchasing an additional 66 shares in the last quarter. Alaska Permanent Fund Corp bought a new stake in shares of McKesson in the 3rd quarter valued at approximately $212,000. Annex Advisory Services LLC bought a new stake in shares of McKesson in the 3rd quarter valued at approximately $228,000. Baron Wealth Management LLC bought a new stake in shares of McKesson in the 3rd quarter valued at approximately $287,000. Finally, New Mexico Educational Retirement Board increased its holdings in shares of McKesson by 6.0% in the 3rd quarter. New Mexico Educational Retirement Board now owns 7,052 shares of the company’s stock valued at $3,067,000 after acquiring an additional 400 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MCK has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Barclays boosted their price target on McKesson from $571.00 to $596.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Leerink Partnrs restated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Evercore ISI upped their price objective on McKesson from $590.00 to $600.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. Finally, TD Cowen upped their price objective on McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $571.47.

Insider Activity

In other news, Director Susan R. Salka sold 606 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $558.04, for a total value of $338,172.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Susan R. Salka sold 606 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $558.04, for a total value of $338,172.24. The disclosure for this sale can be found here. Insiders sold a total of 4,080 shares of company stock worth $2,160,489 over the last 90 days. 0.21% of the stock is currently owned by company insiders.

McKesson Stock Performance

Shares of NYSE:MCK traded up $4.20 on Thursday, hitting $555.76. The company’s stock had a trading volume of 756,046 shares, compared to its average volume of 712,624. The company has a market capitalization of $72.24 billion, a price-to-earnings ratio of 24.65, a price-to-earnings-growth ratio of 1.31 and a beta of 0.45. The stock’s 50-day moving average is $534.31 and its two-hundred day moving average is $497.78. McKesson Co. has a 12 month low of $373.28 and a 12 month high of $566.01.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $6.34 by ($0.16). The firm had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the company earned $7.19 EPS. Equities analysts expect that McKesson Co. will post 31.55 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.62 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.48 annualized dividend and a dividend yield of 0.45%. McKesson’s dividend payout ratio (DPR) is 11.08%.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.